Friends
Though day to day it has often been a mixed picture, stocks continue to push higher in general. Yes, most of this year’s performance has been provided by the stars of the market, but as of late we are getting more and more participation from the masses. The narrative now with regards to the Fed is that the committee will pause next week at the FOMC meeting but keep open the possibility/likelihood of more rate hikes in the future. We will see.
As for today, by the close the Dow Jones Industrial Average was up 168 points to finish the day at 33,833. The S&P 500 was up 26 points to close at 4,293. The Nasdaq Composite Index was up 133 points to close at 13,238. Gold was up $20 to trade at $1,979 per ounce, while oil was down $1.46 to trade at $71.07 per barrel WTI.
For now, the bulls hold the high ground while the bears continue to be frustrated and confused. The markets love to drive participants mad, don’t they? Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
